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Economies of Scale The reduction in the cost of each additional unit produced as all factors of production increase. Factors contributing to economies of scale include discoun
why s-block elements are powerful reducing agent?
Under capitalism, most production is undertaken by private companies (of various forms), with the goal of generating a profit to the company's owners. Profit is obtained when compa
what is ''Prisoner''s Dilemma'',of non-cooperative game?estion..
Question 1: a) Describe the different types of unemployment that exist. b) Critically examine how monetary policy will be used to deal with inflation. c) Critically deter
solution for -calculate price elasticity of demand for demand function Q= 10 - 2p for decrease in price from Rs. 3 to Rs.2
Allocative efficiency criteria are satisfied by the competitive model. Because P = MC, in each market in the economy there is no over- or under- allocation of resources in this ec
Show the possible outcome of setting a minimum wage for under-eighteens. Explaining and illustration of minimum wage - clearly set above market equilibrium outlining res
What are the costs and difficulties of such an operation? The direct costs are administrative, cooperative and storage costs, whereas the societal costs include misallocation,
Why is human capital so important in the development process? Explain human capital in terms of (the sum of) education/training/experience/ literacy etc, and clearly show how t
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